[Calc Review] Help me analyze this deal
It's a Mobile Home Park with 10 acres, great location. But it's a Grandfather's property. Rural zoning.
No more units can be added to the MHP. That you can place replace trailers that are currently there but must be of like kind and size directly from the city.
Rental Income $ 95,400.00
Electric $ (6,600.00)
Dumpster $ (3,660.00)
Maintenance/Lawn $ (24,000.00)
Property Tax $ (8,000.00)
The ower is asking for 50k Downpayment, owners financing 15 years, 5% interest rate.
If these numbers my cash flow is negative because of a low downpayment and 15 years instead 30 years.
How difficult is it to replace MHP tenents?
Is it possible to have insurance for MHP?
Like a new owner can I keep some rules like a Grandfather's property?
Thank you,
*This link comes directly from our calculators, based on information input by the member who posted.